SPOKANE, Wash., June 21, 2002 — Itron Inc., a technology provider and source of knowledge to the energy and water industries, recently reaffirmed its previous guidance for strong financial results in the second quarter and for the year 2002.
“By every measure, 2002 has been a great year thus far for Itron and we reiterate our outlook for 2002,” commented LeRoy Nosbaum, Chairman and CEO.
“We see no reason for recent drop in stock price that began recently. We continue to expect to achieve our previous EPS guidance for 2002 of $1.00 to $1.05 per share, which is supported by our recent announcement to automate 225,000 meters for Intermountain Gas as well the strong revenues, bookings, gross margins and backlog reported in our first quarter earnings release.
“Bookings for the first two months of this quarter are higher than those of the first two months of the first quarter. We also believe that 2003 will be another growth year for us.”
Itron is a technology provider and critical source of knowledge to the global energy and water industries. More than 2,000 utilities worldwide rely on Itron technology to deliver the knowledge they require to optimize the delivery and use of energy and water.
Itron clients use this knowledge to run their businesses more efficiently, reliably and profitably, to strengthen connectivity to their customers, and to meet the new business requirements of deregulated energy markets.
Itron’s solution portfolio includes automatic meter reading systems to meet the requirements of all customer classes and service environments; web-enabled workforce management solutions; as well as transmission and distribution system design solutions and services.
Itron also provides advanced software solutions and consulting services for collection, analysis and application of load profile data, including enterprise-wide data access, data warehousing, load research, complex billing and settlement, and web-based data access and exchange.